SEC Inspector General Probes Khuzami's Role In Citi Settlement

Bloomberg:

Read the whole story: Bloomberg

Comments

[floodmfx]

04:54 PM on 01/12/2011

Wow - that's a surprise, the SEC is giving bank executives preferential treatment.
I am shocked !

[Steve Rockett]

01:58 PM on 01/12/2011

The republicans are confusing the country. Do you want the banks to survive or do you want them nailed to the wall and broken down into smaller pieces and held more accountable? You can't have it both ways.

[DebtNavigation]

01:39 PM on 01/12/2011

#Khuzami was supposed to have been a #Pecora, but his "work" with #Citibank shows we still need a real one, not more corruption like his.

[Martskers]

01:05 PM on 01/12/2011

Gee, what a surprise! Obama puts Mary Schapiro, the former handmaiden of the securities industry when she was the CEO at FINRA (formerly NASD), in charge of the supposed "cop on the beat" of the securities markets (i.e., the SEC), and this is what you get.

Stanley Sporkin: where are you now that we need you!

[vippy]

11:58 AM on 01/12/2011

What a joke, who picks these losers?  But then again, we voted for the losers in Washington, yes, on both sides of the aisle.  We just don't get it they are all the same and we are the losers yet we still argue about who is worse?  They all took lessons from Michael Milken, the junk bond king.  What is different now, nothing!  Then came ENRON and everybody took their clue from them.  Vote 3rd party
and send a strong message that we are fed up. 

[nypapajoe]

11:51 AM on 01/12/2011

Why isn't this corrupt public official criminally investigated? There are people in jail on suspicions of selling $5 dollar worth of marijuana, why is a government official not under criminal investigation!

[Lpeter]

11:17 AM on 01/12/2011

Wow. They hide 40 billion and lie and get a 75 million fine. That pic makes him look pretty nervous.

Yes let's jail drug attics and shoplifters and let the big dogs run amuck. No justice at all anymore.

[Sharkcellar]

11:38 AM on 01/12/2011

It's always been this way. But now we have the internet and these names and faces can be disseminated far quicker and more broadly than ever before....as long as we have a free and open internet.

[DebtNavigation]

01:41 PM on 01/12/2011

Which is why they're itching to get a kill switch in hand.

[PharmaCan]

11:04 AM on 01/12/2011

I don't have a lot of good things to say about China these days, but I will admit that I sometimes envy the way they dispense justice to financial criminals like these people. Perhaps if these crooks knew that they might have to answer for their crimes and face serious consequences for them, they might change their behavior.

When there are no consequences for bad actions, there is no motivation to avoid them. That's one of the first lessons that every child by about the age of two.

[Lpeter]

11:22 AM on 01/12/2011

We all really setting a bad example for democacy and a free market. We need to raise the bar for integrity. This is really sad and is hurting everybody. Even the people who get away with it.,

they are probably no more happier with all the karma that comes from stolen money. Throwing people out into the cold and causing wide spread poverty can't taste to good after a while.

[Steve Rockett]

02:01 PM on 01/12/2011

Unfortunately those from whom we want integrity and ethics are in the bar.

[MayorsRevenge]

10:41 AM on 01/12/2011

Obama's approval rating is at 50%. 50% of the people therefore do not care about record debt levels, fraud, corruption, kickbacks etc.

It's over.

[PharmaCan]

11:06 AM on 01/12/2011

You should try to stay from that "thinking" thing. You're just not up to it!

[AlanInGA]

11:28 AM on 01/12/2011

I voted for Obama. Would you please point out the hope and change I voted for? The business as usual he said he would do away with. The left will never abandon their liar in chief. The rest of the country will.

[vippy]

11:59 AM on 01/12/2011

I stated same yesterday.  People will never get it, they just go along with whatever and then complain. 

[Earn My Vote]

10:33 AM on 01/12/2011

Well, there you have it in black and white - concrete proof of what we've been saying, and Washington has been avoiding. Let's see what they do about it. Probably nothing.

[TXfemmom]

10:30 AM on 01/12/2011

The settlement should be overthrown and this guy from the SEC needs to face some charges over his behavior, and the amounts paid by the individuals involved need to be increased by ten, as does that to be paid by CITI.  The SEC man should have stepped aside and not been involved in it anyway, because of his conflict of interest.

[grouseless54]

10:41 AM on 01/12/2011

Dear TXfemmom:
In an ordinary year, I'd agree with you, but somehow things have been turned upside down. I hardly read these articles anymore. It's because my misgivings are so often confirmed that the ONLY reason a settlement has been arrived at is precisely because our agencies are conflicted. Conflict is the rule of the day. Our government may not exist at all if you remove the administrators whose activity is conflicted.

[TXfemmom]

06:36 PM on 01/12/2011

There are differing degrees of conflict of interest...being friends with one of the major attorneys involved and meeting with him privately is a GREAT BIG CONFLICT OF INTEREST. 

[norkas]

10:27 AM on 01/12/2011

New York City has been the capitol of multi billion coverups in America this is where the financial capitol is.

Anyone who commits billion dollar frauds has a free pass in NYC unless you admit the fraud yourself.

We taxpayers are paying over a trillion dollars for these frauds and those that have committed then know we will pay again.

New York City is a safe haven for massive frauds and those that commit them know this is where you need to be.

A multi billion dollar fraud by the Gemological Institute of America was exposed and covered up. The fraud including massive money laundry and consumers being duped for billions .
Consumers purchased diamonds that were over graded because criminals were paying off the GIA. Consumers were buying treated diamonds worth 80% less then what they paid for because of bribery and lies.

No recall to protect the consumers and others. No justice and many business people destroyed because they could not compete with the crooks.

Prosecutors had the proof and never did anything to protect the consumers who still do not today that many were cheated or business people who work so hard.

New York City will never change because cover ups is part of the deal.

[Majestry]

10:32 AM on 01/12/2011

I think your tinfoil hat is on a little too tight.

[AlanInGA]

11:29 AM on 01/12/2011

Maybe you need to get out more often and read some real news.

[vippy]

12:08 PM on 01/12/2011

Excellent analysis!

[lyingtruth]

10:20 AM on 01/12/2011

SEC Inspector - Wall St Protector

The reason more traders, executives and firms are not busted on Wall St. is because these are Angels from Heaven. I know that most of you are unaware where God sends his Angels, but it is Wall Street.

They are sent to protect the wealthy for several reasons; they put the most in the collection basket at Church, make the largest charitable donations and create jobs. It is really very simple...!

[ScottV]

10:06 AM on 01/12/2011

They are guilty as heck everyone who worked for Citimortgage at the time knew the subprime market was bogus but the NYer's thought they knew better then us midwest hicks. These two along with Prince and Rubin need to be held accountable for the damage they caused.

[KathyinMichigan]

10:05 AM on 01/12/2011

Keep digging, follow the money. These people are crooks they should be charged with unarmed robbery and should go to jail, directly to jail.